BARBERRY GROUP BUY TWO SWANSEA RETAIL PARKS FOR £10.3M
By Barques | July 1, 2008
Barberry Group has exchanged contracts to purchase Phoenix Retail Park and Lion Way Retail Park, Swansea, South Wales, for £10.3M from International Asset Management Company, Threadneedle.
The 7.9 acre site, part of the established Swansea Enterprise Park, comprises two retail warehouse parks constructed in 1985, totalling 95,000 sq ft, with 359 car parking spaces. The retail parks are located to the north of the city centre with good access to the M4, junctions 44/45.
“These are first generation retail units benefiting from open A1 (part food) retail consents. This is a very significant retail deal for the area and represents our confidence in the market and the regeneration of the South Wales area in keeping with the Welsh Development Agency and their Property Strategy for employment in Wales (2004-2008). Swansea is the administrative centre of South West Wales with a catchment area of 1.5 million people within one hour’s drive. The purchase is typical of the investments we are actively seeking at this time. Barberry Group is in a strong financial position to acquire land and property with added value potential. There is the opportunity to further invest in the retail parks in order to bring the units up to contemporary standards and we anticipate this being part of our future plans. ” Said Jon Bellfield, Director of Barberry Group.
The surrounding area is a major retail destination with an established retail presence including Tesco Extra, Allied Carpets, MFI, PC World, Focus and Comet.
“With just 21% of the site covered we also have the option to develop additional units on site as the growth in the retail need for the area continues..” Added Bellfield.
Current net rents are £896,706 per annum with rents from £9.50 - £12 per sq ft.
Lambert Smith Hampton acted for the Barberry Group with King Sturge acting for Threadneedle.
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Darral Lambert, Barques Design, 33 Ludgate Hill, Birmingham. 0121 233 2080.
Notes to editors
Barberry is a privately owned development and investment company established in 1991 and based in the West Midlands. The company is active in all sectors of the property market and has a reputation for creating investments for institutional markets. Barberry has also completed several partnership and joint venture developments. Further information is available online http://www.barberry.co.uk.
Topics: News |
NEW WEBSITE IS GOOD ENVIRONMENTAL SENSE SAYS BARBERRY
By barques | May 9, 2008
West Midlands based developer Barberry Group has launched a new website which will see the developer cut the environmental costs of its annual communications programme.
The new site www.barberry.co.uk not only details the activities of the group but also Barberry’s opinions on the markets in which they operate.
Henry Bellfield, explains,
“Online is essential in our communications programme and also the logical thing to do for the environment. Our partners and clients regularly need to know what we are doing and can now use our website to keep up to date with our plans and achievements. Instead of having to send out hundreds of letters and brochures to provide information on every scheme, the new website communicates up to date news and our requirements instantly. Furthermore as the property market is in a perpetual state of flux our priorities can vary from month to month. At the moment we are actively pursuing income producing investment opportunities with significant angles to add value. A period where it is difficult to obtain credit favours responsible borrowers like ourselves who have established excellent relationships with lenders and are therefore low risk. “
Topics: News |
SOMERFIELD’S KWIK SALES BOOST BARBERRY GROUP
By Barques | March 31, 2008
Barberry Group has completed a series of four store purchases from supermarket chain Somerfield. The four stores were included in the property portfolio acquired by Somerfield as part of their purchase of the Kwik Save brand and each has been successfully re-developed by Barberry for a variety of new uses.
Topics: News, Retail and Leisure |
BARBERRY GROUP INVEST £4M IN ‘LEICESTER’S EXCITING RETAIL FUTURE’
By Barques | March 31, 2008
West Midlands based developer Barberry Group has purchased a prominent 16,500 sq ft four storey building on Leicester high street citing Leicester’s “exciting retail future” as the reason behind the purchase.
Topics: News, Retail and Leisure |